ICICI Securities has given Buy recommendation for Gujarat Fluorochemicals recommended buy rating on the stock with a target price of Rs 3356 in its resear with a target price of Rs. 3356 in its research report issued on Apr 07, 2022

ICICI Securities research report on Gujarat Fluorochemicals

Gujarat Fluorochemicals Ltd (GFCL) will likely benefit from rising demand / realisation for fluoropolymers. Company is backward-integrated for most products, which enables it to expand capacity faster than global peers. PTFE price increase is being reflected in export realisatons; PVDF and FKM product developments are moving in the right direction. Company also sees opportunities arising from supplying R-142B to global peers as part of China+1 strategy.


GFCL started production of R-125 and R-142B in Q4FY22, and revenue booking should start from next quarter. Our assessment suggests significant upside risk to our estimates. Maintain BUY; GFCL is among our top picks in the chemicals space.

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